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European equities and US futures are higher, off their worst levels (tech sell-off) but still cautious ahead of tomorrow’s Fed press conference, the outlook being more important than the widely expected rate hike. Trump continues to throw his weight around on tariffs, keeping the risk of trade wars alive, especially with China. GBP off its Brexit ‘breakthrough’ highs tamer inflation to help the UK UK Index , while the German DAX welcomes EUR weakness following mixed ZEW surveys.
UK 100 helped north by contributions from RDSb (oil higher), HSBC (bolstering capital base), BHP (broker upgrade), PRU (tech bounce), RIO (asset sale to GLEN, bond repurchase), LLOY (bounce), RBS (bargain hunting from 6M lows) and DGE (GBP off highs). These are easily offsetting the only real hindrance from ULVR (bond proxies still out of favour).
The UK Index 100 has bounced back towards 7085 high of the day. The DAX 30 is rallying back for another challenge of 12290 resistance. Dow Jones Futures, at 24700, remain in a falling channel. Gold is under pressure again after failing at $1320.
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The UK Index 100 has bounced back towards 7085 high of the day.
Watch levels: Bullish 7,085 Bearish 7,060
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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The DAX 30 is rallying back for another challenge of 12290 resistance
Watch levels: Bullish 12,295; Bearish 12,250
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Dow Jones Futures, at 24700, remain in a falling channel
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Gold is under pressure again after failing at $1320
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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